Personal Wealth Plan with Reassure since '89 - won't tell me how much I paid in!

KTPOO

I am not sure I am in the right forum, but wonder if anyone can help.


Back in 1989, a friend's friend worked as a Rep. for General Portfolio, he was on commission and hard times, so several of us took out a savings plan. for £10 a month. We were told we could get lots of money back in 10 years or so.


The company has changed from GP, to Gan and now Reassure, however, I have continued paying, the amount going up each year, now paying £70 a month, my plan after all this time is worth £11,000 if I cancel it - having been invested in three or four Managed Trusts.


I contacted them on the Anniversary of the policy to ask how much I have paid in to date. I was told they couldn't give me this, but only the last two years in writing so now I have no idea whether it really has been worth it!


I am tempted to just get it out, but before I do, would like to know just how much I have gained, if anything over the years.


I have lots of paperwork, shoved in a file somewhere, but probably not enough info. to work out my total payments.


Can they just not tell me? Is there anyway of finding out? What would you suggest?


Many thanks

Gram_Parsons

I'd estimate you've paid in very roughly about £13,000. I based it on £40/month as a mid point x12 x 27 years.

Obviously you would expect a good bit of growth as well though!

racing_blue

No wonder your friend was on commission

look on the bright side, without your support Chris Boardman may never had ridden le Tour de France back in the day :dance:

goRt

racing_blue wrote: »

No wonder your friend was on commission

look on the bright side, without your support Chris Boardman may never had ridden le Tour de France back in the day :dance:

Gan Life and Pensions (UK) was sold to Windsor Life in the late 90s to get away from issues with the EU over another state bailout from the French government.

Nearlyold

The problem with these plans was that General Portfolio didn't make it clear the "Personal Wealth Plan" title referred to the money the salesman would make from the plan rather than the customer

KTPOO

Oh I have been through them all, I'm not sure even if there was someone else before Reassure.

Do they not have to tell you whats been paid in?

My premiums for the last few years have been at least £60 - I am going to look as far back as I can, but pretty rubbish return of £11,000 then, can't say I am impressed.

To be honest, I had no idea what I was taking out at the time, as a young 20 something, was just told after 10 years I would have a 'shed load of money!' :huh:

I think I can see a new investment and a short holiday coming!

KTPOO

Oh and I HATE cycling!

redux

KTPOO wrote: »

Oh I have been through them all, I'm not sure even if there was someone else before Reassure.

Do they not have to tell you whats been paid in?

My premiums for the last few years have been at least £60 - I am going to look as far back as I can, but pretty rubbish return of £11,000 then, can't say I am impressed.

To be honest, I had no idea what I was taking out at the time, as a young 20 something, was just told after 10 years I would have a 'shed load of money!' :huh:

I think I can see a new investment and a short holiday coming!

Windsor Life.

Did any of the firms in this sorry saga pay compensation?

You sound like one of their typical targets.

See this old article from 2001.

http://www.theguardian.com/money/2001/dec/08/pensions.jobsandmoney

TrickyDicky101

They may well not have the records - the *should* have records of premiums from whenever they acquired your policy but they may well not have before that.